To rescind unobligated stimulus funds and require that such
funds be used for Federal budget deficit reduction.

IN THE SENATE OF THE UNITED STATES

February 17, 2011

Mr. MORAN introduced the following bill; which was read twice and referred
to the Committee on Appropriations

A BILL

To rescind unobligated stimulus funds and require that such
funds be used for Federal budget deficit reduction.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Recovering Excessive Stimulus Expenditures
for Taxpayers Act' or the `RESET Act'.

SEC. 2. RESCISSION OF UNOBLIGATED STIMULUS FUNDS.

(a) Rescission of Unobligated Stimulus Funds- Effective on the date
of the enactment of this section, there are rescinded all unobligated
balances of the discretionary appropriations made available by division
A of the American Recovery and Reinvestment Act of 2009 (Public Law
111-5).

(b) Use for Deficit Reduction- All appropriations rescinded in subsection
(a) shall be deposited in the general fund of the Treasury and used
for Federal budget deficit reduction.